PhilFIDA Holds Seminar on Asset Management in Quezon City.

Inside a bright conference room in Quezon City, PhilFIDA staff leaned forward, taking notes and asking questions as experts guided them through the complexities of managing government property. From November 3 to 7, personnel from the Philippine Fiber Industry Development Authority (PhilFIDA) attended a Seminar on Property and Supply Management System and One-Time Cleansing of PPE Account Balances to improve accountability and efficiency in handling government assets.

The week-long seminar focused on strengthening property and supply management practices, ensuring that the agency’s records accurately reflect its assets. Participants learned practical approaches to track, report, and maintain government property, including furniture, equipment, and other assets under the Property, Plant, and Equipment (PPE) accounts.

Officials highlighted that proper management of PPE accounts is essential not only for compliance with government auditing standards but also for promoting transparency and public trust. Sessions included detailed discussions on accounting guidelines, reporting procedures, and methods for correcting discrepancies in asset records.

This initiative supports PhilFIDA’s ongoing efforts to improve organizational efficiency and accountability. By training staff on proper property management, the agency aims to reduce errors, prevent losses, and maintain a reliable inventory system for all government assets.

Participants also engaged in practical exercises and collaborative activities designed to reinforce the seminar’s lessons. These hands-on sessions helped them apply new knowledge in real-world scenarios, ensuring that the agency’s resources are effectively monitored and maintained.

The seminar reflects the government’s broader push for good governance and responsible stewardship of public resources. By enhancing staff skills and knowledge in property and supply management, PhilFIDA reinforces its commitment to efficiency, accuracy, and accountability in all operations.

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